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Xceligent Shuts Down, Files for Liquidation

UK-based DMGT, Xceligent's owner since 2012, recently reduced the commercial property data provider's carrying value to zero following earnings disappointments.

The CommercialSearch.com landing page Xceligent relaunched its national property listing service, CommercialSearch.com, in May 2016.

WILMINGTON, DE—Commercial property data provider Xceligent Inc. has ceased operations and filed for Chapter 7 liquidation in US Bankruptcy Court here. The announcement of the shutdown Friday by DMGT, Xceligent’s London-based parent company since 2012, comes two weeks after the Wall Street Journal reported that settlement talks between Xceligent and rival CoStar Group, each of which had filed suit against the other, had broken down.

DMGT announced this past Nov. 30 that Xceligent’s new management team was undertaking a strategic review. This followed a reduction in Xceligent’s carrying value to zero in the face of earnings that fell short of expectations.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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